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Alternative Market Briefing Weekly

Total number of single-manager hedge funds reached record level of 7,867 in 3Q12: hedge fund news, week 50

Saturday, December 15, 2012

In the week-ending 14 December 2012, Hedge Fund Research reported that new hedge fund launches and liquidations had maintained the pace of recent quarters in 3Q12 despite macroeconomic risks, political uncertainties and regulatory changes; Michael Cagney, a hedge-fund manager backed by China’s largest social-networking website, is starting a series of loan funds that targets Ivy League graduates; and UK-listed F&C A. M. launched the F&C Real Estate Equity Long/Short UCITS fund.

Horton Point LLC, a systematic trading firm based in New York, is now moving into the incubation business and is raising a private equity fund to serve as a seeding vehicle for a number of systematic traders; and SAIL Advisors said it was searching for strategies including long/short credit, relative value and long/short equity hedge funds for allocations next year.

WSJ reported that around eight hedge funds closed down in November and early December due to uncertain markets, tighter regulations and investors’ short-term horizons; and Martin Currie said it would shut down its long/short equity strategy China Hedge Fund after the firm got a $14m fine from U.S. and UK regulators.

The HFRI Fund Weighted Composite Index posted 0.35% gains in November (+4.9% YTD); the Bloomberg Hedge Funds Aggregate Index climbed 0.2% (+1.4% YTD); the Hennessee Hedge Fund Index was up 0.36% (+5.47% YTD); the Barclay Hedge Fund Index gained 0.40% (+6.36% YTD): the EurekaHedge index was up 0.52% (+4.51% YTD); the SS&C GlobeOp Hedge Fund Index went up 0.77% (8.9% YTD); the UCITS HFS Index was up +0.32% (+3.06% YTD); and the Newedge CTA Index lost 0.15% (-3.07% YTD).

North Asset Management’s MaxQ reported positive performance YTD with 13% gains; Blackheath’s Volatility Arbitrage Strategy Fund ......................

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